During an economic crisis, the average value of homes in a community of 36 homes lost $9589 with a standard deviation of $1450. The average home value in the region lost $9060. Was this community of 36 homes unusual? Use a t-test to decide if the average loss observed was significantly different from the region value. Use a level of significance α=0.05.
During an economic crisis, the average value of homes in a community of 36 homes lost $9589 with a standard deviation of $1450. The average home value in the region lost $9060. Was this community of 36 homes unusual? Use a t-test to decide if the average loss observed was significantly different from the region value. Use a level of significance α=0.05.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
During an economic crisis, the average value of homes in a community of
36
homes lost
$9589
with a standard deviation of
$1450.
The average home value in the region lost
$9060.
Was this community of
36
homes unusual? Use a t-test to decide if the average loss observed was significantly different from the region value. Use a level of significance
α=0.05.
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